Sheep Farming Market Research Report | NAICS 11241 | Sep 2014

IBISWorld’s Sheep Farming market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Market Share of Companies

Industry Statistics & Market Size

Revenue

$459m

Annual Growth 09-14

-2.5%

Annual Growth 14-19

Profit

Employment

137,414

Businesses

70,329

Industry Analysis & Industry Trends

The Sheep Farming industry has been in decline for the past decade, as per capita consumption of lamb and mutton has been steadily shrinking. In addition to meek demand for industry meat products, domestic wool production has declined as textile producers increasingly chose synthetic fibers over wool. Sheep farmers are anticipated to continue struggling from low demand in the next five-year period... purchase to read more

Industry Report - Industry SWOT Analysis Chapter

The Sheep Farming industry displays decline characteristics through market saturation, falling revenue and decreasing demand for its products. The industry's contribution to the overall US economy, measured by industry value-added (IVA), is forecast to decline at an annualized rate of 1.0% during the 10 years to 2019. By contrast, US GDP growth is forecast to expand at an average of 2.5% per year during the same period.

Both of the industry's major products, meat and wool, have experienced decreasing demand for the past decade. Demand for lamb and mutton has been decreasing as consumers increasingly favor cheaper beef, pork and poultry products. Demand for wool has fallen as textile producers choose low-cost synthetic fabrics over wool... purchase to read more

What is the Sheep Farming Industry?

Sheep farmers primarily raise or fatten sheep and lambs for their wool, meat, milk or sale to other farmers. Meat derived from these animals is separated into two categories: lamb and mutton. Lamb is used to define meat from sheep less than one year old, while mutton refers to meat from sheep more than one year old.